Governor Seyi Makinde of Oyo State has insisted on his claim that the Federal Government is withholding N250 billion in Nigeria LNG Ltd. (NLNG) dividends for each State.
In a reaction to the presidency’s response to his claim, Governor Makinde disclosed that a consultant engaged by the Nigeria Governors’ Forum (NGF), with the Federal Government’s support identified a shortfall of about N9 trillion due to states and local governments from NLNG dividends.
Makinde had alleged that the funds were being withheld until after the elections, claiming that the Federal Government had already spent the money.
The governor made the allegation on Friday during the 2027 Budget Stakeholders’ Consultative Engagement at Olola Ogunlana Hall, International Conference Centre, University of Ibadan.
“Each state was supposed to get N250 billion. We had already identified projects that would expand Oyo State’s economy.
“But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” Makinde asked.
Responding, the presidency dismissed Makinde’s claim that the Federal Government is withholding N250 billion in Nigeria LNG Ltd. (NLNG) dividends for each state until after the 2027 general elections.
Presidential Spokesperson, Mr Bayo Onanuga, described the allegation as false in a statement issued on Sunday in Abuja.
The Presidency said the claim was inconsistent with available figures, explaining that paying N250 billion to each of the 36 states would require N9 trillion.
It added that this calculation excluded the Federal Government, the Federal Capital Territory (FCT) and the 774 local government areas.
However, reacting, Makinde stated “The response sidestepped the central issue: the Nigeria Governors’ Forum (NGF), with the Federal Government’s support, engaged a consultant to reconcile NLNG dividend payments.
“The exercise identified a shortfall of about ₦9 trillion due to states and local governments. The Federal Government accepted the findings. The report remains in the custody of both the Federal Government and the NGF. We trust the Presidency will not deny its existence”.
In a statement, Dr Sulaimon Olanrewaju, Special Adviser (Media) to the Governor of Oyo State, insisted that Governor Makinde conducts public discourse with decorum and does not make unfounded claims or quote figures without a basis.
“The Presidency stated that NLNG had paid $21.5 billion in dividends into the Federation Account since inception, including $3 billion received under the current administration.
“But it did not explain how these funds were disbursed. Have states and local governments received their shares? How much did they receive, and how were those amounts calculated? What happened to the $3 billion received under this administration?
“We remain ready to provide further clarification while we urge the presidency to address the substance of the matter,” the statement added.
